European shares mark strong end to nervous week



* STOXX 600 set to break 3-week losing streak

* Retail sector recovers after dropping almost 3%

* Zalando plunges after profit warning (For a Reuters live blog on U.S., UK and European stock markets, click

or type LIVE/ in a news window)

By Sruthi Shankar and Susan Mathew

June 24 (Reuters) - European stocks jumped 2.6% on Friday, pushing them into positive territory for the week as investors started to scale back central bank tightening bets, spurring inflows into risky assets.

The pan-European STOXX 600 index .STOXX marked its best session in more than three months. It had hit a fresh 2022 low in the previous session when weaker-than-expected euro zone business activity data weighed on sentiment.

The benchmark, which until Thursday was down on the week, posted weekly gains of 2.4% thanks to Friday's surge, breaking a three-week losing streak.

Healthcare .SXDP , banks .SX7P and technology .SX8P , sectors led broad-based gains on the day. The retail sector .SXRP which had dropped almost 3% in the session to March 2020 lows, erased those losses to end 1.9% higher for its best day in more than three months.

"Talks of a recession have gone up significantly and dented commodity prices and caused bonds to rally. That's certainly helped equity markets," said Roger Jones, head of equities at asset manager London & Capital.

Trading has remained volatile in recent days as investors fear that rising interest rates and soaring inflation will sharply slow earnings and economic growth. This caused traders to slash their bets on how far central banks will be able to lift interest rates this cycle.

"Markets have been driven by stories, hopes, and fears about growth and inflation over the course of the first half of the year ... the only near-certainty is that the path to the end of the year will be a volatile one," said equity strategists at UBS.

The Ifo Institute's survey showed German business morale fell more than expected in June, as rising energy prices and the threat of gas shortages unsettled businesses in Europe's largest economy.

The retail sector had been hit after data showed British consumers cut back on shopping in May in the face of fast-rising inflation, and a measure of their confidence sank to a record low this month.

Adding to worries, German online fashion retailer Zalando ZALG.DE issued a profit warning sending its shares to over seven-year lows before it cut some losses.

Italy's Saipem SPMI.MI dropped 21.8% after the energy services group said it would have financial resources available for less than one year if its plans to raise capital did not go through.

France's Sanofi SASY.PA and UK's GlaxoSmithKline GSK.L rose 5.0% and 2.1% after a late-stage data on an experimental COVID-19 vaccine from the drugmakers showed the shot confers protection against the Omicron variant of the vaccine.
Reporting by Sruthi Shankar in Bengaluru; Editing by Uttaresh.V and Alison Williams


Mga Kaugnay na Asset


Pinakabagong Balita

Turkey - Factors to Watch on Aug 16


China stockpiled oil in July despite weak imports, refinery runs: Russell


Vietnam dong, gold rates - Aug. 16


New York Times business news - Aug 16

A

Factors to watch - August 16

Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.

Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.

Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.

Gumagamit kami ng cookies para mabigyan ka ng mahusay na karanasan sa aming website. Magbasa pa o palitan ang iyong cookie settings.

Babala sa Risk: Maaaring malugi ang iyong kapital. Maaaring hindi nababagay sa lahat ang mga produktong naka-leverage. Mangyaring isaalang-alang ang aming Pahayag sa Risk.